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    Tax refund?

    I've posted this question before, but didn't get any responses...so I'm trying once again...

    We filed Ch7 BK 4/7, including IRS...DH has about 6K in back taxes that meet all criteria to include in BK. For past several years, all federal income tax refunds have been applied to his tax lien. Now that we've included them, will we actually get our refund? Or will the trustee be entitled to a portion of it?

    Any input appreciated...

    Hoping for brighter skies ahead....
    4/7/07 Filed Ch7 :unsure:
    6/6/07 341 meeting done :blink:
    8/5/07 last day for objections :yes2:
    8/23/07 DISCHARGED!!! :yahoo::yahoo::yahoo:

    #2
    If you're talking about your refund from this year,........... It's gonna depend. There's lots of variables.

    If you filed taxes before you filed BK, the IRS coulda already had dibs on your refund before you filed BK.

    It could depend on your Trustee. If you get a "Letter of the Law" type, your refund may be in jeopardy.

    Your Exemptions and if your attny applied any toward your anticipated refund.

    Child Tax Credit. Some Districts, refunds as the result of extra credits for children aged 17 and younger aren't touched.

    There's any number of different scenarios. Personally, the approach I would take,............ Don't count on getting the money. Don't set aside a bill or go and make a big purchase thinking you're getting the money. Then you can be pleasantly surprised if you do.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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